A RENOVATION REVOLUTION
LOCKDOWN and spending more time at home this year, had many of us investing time and money in home renovations.
In fact nearly one in five (18%) of UK adults has renovated their home during lockdown, according to research by Confused.com.
The kitchen is the most popular room to renovate, according to the poll of 2,000 homeowners. Most (96%) Brits have renovated their kitchen at some point, spending £5,219 on average.
Not only is it the most renovated room, but it is also the area of the house people have spent the most money on, followed by the conservatory and the bathroom. People who have renovated their conservatory (73%) spent £3,550, on average, while the 94% who have upgraded their bathroom, spent £3,340, on average.
Adding or extending a room tops the list as the most desired renovation, with nearly one in seven (13%) people identifying it as top of their wish list. One in eight (12%) would like to change things in the kitchen by installing new worktops, while for one in 10 (10%), converting a room, applying new flooring, or changing the windows is the most desired change.
When it comes to the room that adds the most value, residential partner at Bramleys estate agents, Paul Keighley, comments on some renovations that have the greatest impact on the price of your home: “The number of bedrooms in a property has a big impact on its value so adding bedrooms will usually add to the sale price. Especially if it’s a loft or cellar conversion with an en-suite bathroom. For example, a three-storey detached house with three bedrooms could be worth around 20% less than one with four bedrooms.
“Many people think that merging two smaller bedrooms will increase the value of your property but generally, reducing the number of bedrooms in a property will have a detrimental effect on value.”
Any renovators who believe they’ve added value to their home should let their insurer know about the changes.
A loft conversion